How Much Do Forklifts Cost in 2024?

While there are a wide variety of forklifts, new equipment will cost between $15,200-$50,000, while used equipment ranges between $8,300 to $26,500. Compare free quotes from suppliers in your area.

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Here’s an overview of the typical costs associated with purchasing versus renting various kinds of forklifts:

Forklift Costs

Purchase Costs
- Electric Forklifts
  - Price Range: $15,000 – $30,000
  - Factors Influencing Price: Battery type, lifting capacity, brand
- Internal Combustion Forklifts
  - Price Range: $20,000 – $50,000
  - Factors Influencing Price: Fuel type (gas, diesel, propane), capacity, terrain capability
- Reach Trucks
  - Price Range: $25,000 – $45,000
  - Factors Influencing Price: Reach height, capacity, brand
- Pallet Jacks
  - Price Range: $2,000 – $8,000
  - Factors Influencing Price: Manual vs electric, capacity
Rental Costs
- Daily Rentals
  - Price Range: $100 – $400 per day
  - Factors Influencing Price: Forklift type, capacity, rental duration
- Weekly Rentals
  - Price Range: $300 – $1,200 per week
  - Factors Influencing Price: Forklift type, capacity
- Monthly Rentals
  - Price Range: $800 – $4,500 per month
  - Factors Influencing Price: Forklift type, capacity, rental company policies
Additional Considerations
- Maintenance Costs for Purchases
  - Regular maintenance: $500 – $1,500 annually
  - Battery replacement for electric models: $2,000 – $6,000 every 5-6 years
- Insurance Costs
  - Vary based on model, usage, and coverage
- Training Costs for Operators
  - Safety training: $150 – $300 per person

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The prices can vary significantly based on factors like brand, specifications, dealer location, and current market conditions. Renting can be more cost-effective for short-term or one-off use, while purchasing may be better for long-term, regular use.

Forklift-Cost-Calculator

Forklift Types and Models

Forklifts come in many different shapes, sizes, and price ranges, so it’s important to choose one that best suits your needs.

Forklifts classify as powered industrial equipment, so you will need OSHA certifications in order to drive one.

There are different certification levels for different models, so take that into consideration when choosing which ones are best for you.

Check out this shortlist to see what type of forklift you will need:

Standard Models: These standard model forklifts are great for any jobs that require heavy lifting and storage, and there are a variety of different types available based on your needs
Outdoor/Rough Terrain: These models of forklifts are used for outdoor spaces that may be difficult to navigate, and are great for construction jobs
Narrow Spaces: These forklifts are more compact, making it easier to maneuver tight spaces and narrow hallways with shipping and storage
Electric and Hydraulic Skid Haulers: These are smaller lifts that use either electricity or manpower to make it easier to lift loads over short distances

Standard Forklift Models:

Here you can find the guide for some standard model forklifts, as well as brands and prices on those models.

You can also check out the range for maximum capacity and maximum lift heights for the different models.

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Counterbalance Forklift Cost:

Counterbalance forklifts are the standard model. These forklifts use a weighted counterbalance at the back, with two prongs in front to pick up the load.

These kinds of forklifts are great for multipurpose storage use, including moving pallets. Counterbalance forklifts can get right up close to the load for lifting, rather than using a crane.

Some popular brands that make counterbalance forklifts include Toyota, Hyster, Mitsubishi/Caterpillar, and Clark, among others.

Standard counterbalance forklifts with a weight capacity of around 4500 pounds, and range in prices between $15,960 and $30,050.

Increased capacity forklifts range from 10,000-pound capacity models for $30,000-$45,000, and 35,000 pound capacity forklifts, which can cost up to $100,000.

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Stacker Forklift Cost:

Stacker forklifts are great for stacking and storing loads at higher altitudes. Many models specialize in stacking rather than transporting the load over longer distances.

These models can be gas or electric, and the costs vary depending on the maximum lift heights. Smaller models range in height maximums from 78-220 inches, with price ranges from $7,020-$10,190.

Larger stand-in models can lift up to 20-30 feet, and cost closer to $15,000.

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Telescopic Forklift Cost:

Telescopic forklifts have an even longer lifting range than stacker forklifts. These models are able to reach out over obstacles, similar to a crane, rather than being right next to the load.

Telescopic forklifts have the forks on a telescopic pole at the side of the forklift, rather than the two prongs in the front. This design change makes them much better at lifting loads up to great heights.

These forklifts have a maximum weight of 30,000 pounds, and they can lift that weight up to 70 feet.

Brand new and high-end models of these forklifts can cost over $100,000, but used models usually cost about $20,055 to $60,000. CAT, Genie, and SkyTrak are among some of the brands that make this model.

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Outdoor and Rough Terrain Forklifts:

Rough Terrain forklifts are for heavy construction work that requires sandy, muddy, or otherwise difficult terrain.

These are internal combustion engine (gas-powered) models, designed with large, durable tires designed to handle outdoor work.

Caterpillar/Mitsubishi, Bobcat, CASE, and many other companies specialize in making outdoor and rough-terrain forklifts.

The weight capacity on standard all-terrain forklifts is about 8,000 pounds, and they can lift loads up to 22 feet.

Depending on the models, you can usually find rough terrain forklifts for anywhere between $9,360 and $43,0040. Our guide can help you compare rough terrain models for what best suits your needs.

Forklifts for Narrow Spaces:

These types of forklifts are best suited for narrow hallways in shipping centers. They can come in electric and gas models, and are great for inventory storage and management.

Three-Wheel Forklift Cost:

Three-Wheel or Tricycle forklifts are great for compact spaces such as shipping aisles or other storage facilities.

These models are similar to the standard counterbalance forklift, but they have only one wheel in the back, rather than two. The wheels in the front are closer together, making it easier to maneuver tight spaces.

Toyota, Hyster, Clark, and Yale make three-wheel electric models that have a weight capacity of 3,000-4,000 pounds, and range in price from $27,600 to $34,000.

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Side Loader Forklifts Cost:

Side-Loader forklifts have the forks on the side, rather than in the front. This is ideal for lumber and other loads that are more difficult to manage in tight spaces.

Raymond, Combilift, and Hubtex sell electric and gas-powered side-loaders, with load capacities usually ranging from 6,000 to 12,000 pounds.

The prices range from around $30,400 to $50,000 for new models, but these are also available to rent or purchase used.

Forklift Attachment Prices:

Adding attachments to your forklift can make the work more efficient, but it can also alter the load capacity.

Fork extensions can be purchased from Amazon, among other retailers. These range in price from $164 for basic extensions to $960 for all the bells and whistles (hooks, hoist, truss, and more).

CAM attachments make side shifters for forklifts, and these can range in price from about $1,500 to $4,000 depending on the weight class.

Cascade makes single-double and other attachments that you can use to have two or more loads carried at once. These vary in price depending on the weight class and how many loads are being carried by one forklift.

Cascade also has an online Capacity Calculator that you can use to determine the maximum weight capacity of the forklift. This includes the forklift model and all the attachments you might wish to add.

Other Load Haulers:

Hydraulic Skates or pallet trolleys are devices that use manpower to lift and haul loads over short distances. These require the operator to pump the load to lift it, and then walk for transport.

These are not going to be as effective as a true forklift, but can still help your business move loads around more efficiently than by hand. Pallet trucks range in lifting power from two to three tons, at prices from $500-$1000.

Electric Skids are also available, in addition to the hydraulic models. These use electricity to move the pallets, rather than just manpower. As a result, these can lift more than the hydraulic trolleys, usually up to 4500 pounds.

Lower capacity electric pallet jacks are usually around $2,500, and higher-end models can get up to $7,800.

Toyota and Hyster have models of both hydraulic and electric pallet jacks for sale. You can also get one pretty easily from Home Depot, with brands Eoslift for hydraulic lifts, and Vestil for the electric models.

Used Forklift Costs By Model

Forklifts are one of the most important pieces of equipment in any warehouse. They allow a business to do all sorts of work, from loading and unloading trucks to moving pallets around. However, forklifts can be expensive. Here are real examples of costs when buying a used forklift so that you get the right machine at the best price point.

2003 Lull 10000 lb Telescopic Forklift Telehandler
$26,995

Manitou Telehandler Forklift
$8,475

Toyota 7FGCU20 (2001) 4000 lbs Capacity Great LPG
$8,900

2003 Yale GDP120 12,000lbs Industrial Diesel Forklift Lift
$10,700

2015 Genie GTH-636 36′ 6,000LB Telescopic Reach Forklift
$23,200

Hyster H100XL 10,000 LB Class Forklift Cab Rotating Carriage
$2,625

2015 Hyster S60FT 6000lbs Used Forklift w/ Triple Mast LP Gas & Sideshift
$8,550

Clark Forklift Propane 2500 lb Pneumatic
$4,100

2014 MANITOU M50-4 11000 LB ROUGH TERRAIN RT FORKLIFT 4WD 4X4 4 WHEEL
$64,900

2008 Combi-Lift CL80110DA50 11K Warehouse Industrial Forklift Diesel
$1,525

SKYTRACK 6036 TELESCOPIC FORKLIFT
$14,750

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Buy vs Renting Forklifts – Pros and Cons

Buying Forklifts

Pros:
- Long-term Investment:
  - Equity Building: Ownership of the asset over time.
  - No Time Limit: Unlimited use without worrying about rental periods.
- Customization:
  - Tailored to Specific Needs: Can be customized as per business requirements.
  - Consistent Availability: Always available for use, ensuring no downtime due to lack of equipment.
Cons:
- Initial Capital Outlay:
  - High Upfront Cost: Requires significant initial investment.
  - Depreciation: Value decreases over time.
- Maintenance and Storage:
  - Ongoing Costs: Regular maintenance and repair expenses.
  - Storage Requirements: Need space for storage when not in use.

Renting Forklifts

Pros:
- Flexibility:
  - Short-term Commitment: Ideal for temporary or seasonal needs.
  - Variety of Choices: Access to different models and latest technology.
- Lower Initial Expense:
  - No Large Initial Investment: Pay only for the rental period.
  - Maintenance Included: Usually covered by the rental company.
Cons:
- Higher Long-term Cost:
  - Expensive Over Time: Can be costly if rented for a long period.
  - No Equity: No ownership or asset accumulation.
- Availability and Customization:
  - Limited Customization: Forklifts may not be tailored to specific needs.
  - Dependency on Availability: Subject to rental company’s inventory.

This comparison outlines the key considerations for businesses deciding whether to buy or rent forklifts, factoring in financial implications, flexibility, and operational needs.

Where to Buy a Forklift

The good news is that there are forklift dealers all over the country, depending on what brand you are looking to buy. You can go to these dealerships in person, or buy directly from the company’s website online.

Toyota, Mitsubishi Caterpillar, Hyster, and other major companies have dealerships all across America. You can also go to a forklift dealership that sells makes and models from many different brands.

You can search here to find forklift dealerships in your area, and to find which dealerships sell the models you’re looking for.

You can also find forklift sharing sites online where you can find posted listings for used forklifts. These kinds of sites sometimes ask for contact information so that they can contact you with a quote on the price of the item.

Get a Quote

Before you go out to buy or order your forklift from a dealership, you can also visit our Forklift Pricing Guide to get a quote to determine the best price on the brands and models you’re looking for.

Getting a quote before you buy can be helpful in making sure you’re getting the best deal on the market, and aren’t being charged more than it’s worth.

It’s also a good idea to contact the seller or another specialist to find out if the price you see is right for the forklift you’re wanting to buy.

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Next Steps

We hope you’ve enjoyed reading this buyer’s guide for all the different types of forklifts! With everything you’ve learned, you’re one step closer to finding all the right tools for your next job!

Looking for something else? Don’t worry, we also have prices and guides available for Arial Lifts and other heavy construction equipment!

You can also Contact Us to get even more information about forklift prices, or to compare costs for many other items your business needs.

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